NEVADA LIFE AND HEALTH EXAM SIMULATOR
QUESTIONS AND ANSWERS NEWEST UPDATE
2024/2025 A COMPLETE BEST SOLUTION WITH 100%
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March 1.
The elimination period is the period of time between the onset of a disability, and the time
you're eligible for benefits. It is best thought of as a deductible. For your policy. After a 30
day elimination. Z will become eligible for receiving benefits on March 1. - CORRECT
ANSWERS Z owns a disability income policy with a 30 day elimination period. Z contracts
pneumonia that leaves him unable to work from January 1 until January 15. He then
becomes disabled from an accident on February 1 and the disability last until July 1 the same
year. She will become eligible to receive benefits starting on?
Used to prevent nonessential medical costs.
Pre-administration certification is used to prevent unnecessary medical costs - CORRECT
ANSWERS Which of the following best describes how pre-administration certifications are
used?
Entire Contract provision - CORRECT ANSWERS When an insurance company sends a policy
to the insured with an attached application, the element that makes the application part of
the contract between the insured and the insurer is called:
Income tax and a 10% penalty assessed upon funds withdrawn from the qualified plan.
The IRS says that withdraws of funds from a profit sharing plan may be subject to a 10% tax
penalty in addition to income taxes if they are made before the age of 59 1/2. This same
early withdrawal penalty applies to funds taken out of for 401(k) plans and traditional
individual retirement accounts. - CORRECT ANSWERS At the age of 45, an individual with
draws $50,000 from his qualified profit-sharing plan and then deposit this amount into a
personal savings account. This action would result in:
Pay the policy proceeds in the amount the premiums would have purchased at the intrudes
actual age - CORRECT ANSWERS If, at a time of an insured's death, the insurance company
,NEVADA LIFE AND HEALTH EXAM SIMULATOR
QUESTIONS AND ANSWERS NEWEST UPDATE
2024/2025 A COMPLETE BEST SOLUTION WITH 100%
CORRECT VERIFIED ANSWERS BEST GRADED A+ FOR
PASS
discovers that the insured's age was missed stated on the application for life insurance, the
company will most likely:
In any insurance transaction.
An insurance company must clearly specify questions designed to obtain information for
marketing research in any insurance transaction. - CORRECT ANSWERS An insurance
company must clearly specify questions design to obtain information solely for marketing
research:
Notice regarding replacement.
Health insurance application forms must contain a question asking the applicant whether
the policy being applied for is intended to replace a health policy currently in force. If so the
agent must provide the applicant with a notice regarding replacement prior to delivering the
policy. - CORRECT ANSWERS What foremost an applicant be provided with prior to policy
delivery if it's replacing an existing health policy?
Does not guarantee a return of its investment accounts.
In contrast variable insurance products do not guarantee contract cash values, and it is the
policy owner who assumes the investment risk. Variable life insurance contracts do not make
any promises as to either interest rates or minimum cash values. - CORRECT ANSWERS A
variable insurance policy:
Spouses occupation.
In this situation, a spouse is occupation is not necessary for the application - CORRECT
ANSWERS An individual disability income insurance applicant may be required to submit all
the following except:
, NEVADA LIFE AND HEALTH EXAM SIMULATOR
QUESTIONS AND ANSWERS NEWEST UPDATE
2024/2025 A COMPLETE BEST SOLUTION WITH 100%
CORRECT VERIFIED ANSWERS BEST GRADED A+ FOR
PASS
If the employee paid for qualified medical expenses, the reimbursement may be tax-free.
Under a health reimbursement arrangement, reimbursements may be tax-free if the
employee paid for qualified medical expenses - CORRECT ANSWERS Which of the following
statements about health reimbursement arrangements (HRA) is correct?
Premiums may increase at time of renewal.
A conditionally Renewable Health entrance Paul's he can increase premiums at the time of
renewal. - CORRECT ANSWERS What is considered to be a characteristic of conditionally
Renewable Health insurance policy?
Assign policy ownership to the bank.
A policy owner may assign ownership of a policy to a bank as collateral. - CORRECT
ANSWERS What action can policyholder take if an application for a bank loan requires
collateral?
Assist in the prevention of insurer insolvencies.
One of the stated purposes of the life and health insurance guaranty association is to assist
in the prevention of insure insolvencies - CORRECT ANSWERS One of the stated purposes
of the life and health insurance guaranty association is to:
The daughter.
With a common disaster Provision a policy owner can be sure that is both insured and the
primary beneficiary die within a short period of time the death benefits will be paid to
QUESTIONS AND ANSWERS NEWEST UPDATE
2024/2025 A COMPLETE BEST SOLUTION WITH 100%
CORRECT VERIFIED ANSWERS BEST GRADED A+ FOR
PASS
March 1.
The elimination period is the period of time between the onset of a disability, and the time
you're eligible for benefits. It is best thought of as a deductible. For your policy. After a 30
day elimination. Z will become eligible for receiving benefits on March 1. - CORRECT
ANSWERS Z owns a disability income policy with a 30 day elimination period. Z contracts
pneumonia that leaves him unable to work from January 1 until January 15. He then
becomes disabled from an accident on February 1 and the disability last until July 1 the same
year. She will become eligible to receive benefits starting on?
Used to prevent nonessential medical costs.
Pre-administration certification is used to prevent unnecessary medical costs - CORRECT
ANSWERS Which of the following best describes how pre-administration certifications are
used?
Entire Contract provision - CORRECT ANSWERS When an insurance company sends a policy
to the insured with an attached application, the element that makes the application part of
the contract between the insured and the insurer is called:
Income tax and a 10% penalty assessed upon funds withdrawn from the qualified plan.
The IRS says that withdraws of funds from a profit sharing plan may be subject to a 10% tax
penalty in addition to income taxes if they are made before the age of 59 1/2. This same
early withdrawal penalty applies to funds taken out of for 401(k) plans and traditional
individual retirement accounts. - CORRECT ANSWERS At the age of 45, an individual with
draws $50,000 from his qualified profit-sharing plan and then deposit this amount into a
personal savings account. This action would result in:
Pay the policy proceeds in the amount the premiums would have purchased at the intrudes
actual age - CORRECT ANSWERS If, at a time of an insured's death, the insurance company
,NEVADA LIFE AND HEALTH EXAM SIMULATOR
QUESTIONS AND ANSWERS NEWEST UPDATE
2024/2025 A COMPLETE BEST SOLUTION WITH 100%
CORRECT VERIFIED ANSWERS BEST GRADED A+ FOR
PASS
discovers that the insured's age was missed stated on the application for life insurance, the
company will most likely:
In any insurance transaction.
An insurance company must clearly specify questions designed to obtain information for
marketing research in any insurance transaction. - CORRECT ANSWERS An insurance
company must clearly specify questions design to obtain information solely for marketing
research:
Notice regarding replacement.
Health insurance application forms must contain a question asking the applicant whether
the policy being applied for is intended to replace a health policy currently in force. If so the
agent must provide the applicant with a notice regarding replacement prior to delivering the
policy. - CORRECT ANSWERS What foremost an applicant be provided with prior to policy
delivery if it's replacing an existing health policy?
Does not guarantee a return of its investment accounts.
In contrast variable insurance products do not guarantee contract cash values, and it is the
policy owner who assumes the investment risk. Variable life insurance contracts do not make
any promises as to either interest rates or minimum cash values. - CORRECT ANSWERS A
variable insurance policy:
Spouses occupation.
In this situation, a spouse is occupation is not necessary for the application - CORRECT
ANSWERS An individual disability income insurance applicant may be required to submit all
the following except:
, NEVADA LIFE AND HEALTH EXAM SIMULATOR
QUESTIONS AND ANSWERS NEWEST UPDATE
2024/2025 A COMPLETE BEST SOLUTION WITH 100%
CORRECT VERIFIED ANSWERS BEST GRADED A+ FOR
PASS
If the employee paid for qualified medical expenses, the reimbursement may be tax-free.
Under a health reimbursement arrangement, reimbursements may be tax-free if the
employee paid for qualified medical expenses - CORRECT ANSWERS Which of the following
statements about health reimbursement arrangements (HRA) is correct?
Premiums may increase at time of renewal.
A conditionally Renewable Health entrance Paul's he can increase premiums at the time of
renewal. - CORRECT ANSWERS What is considered to be a characteristic of conditionally
Renewable Health insurance policy?
Assign policy ownership to the bank.
A policy owner may assign ownership of a policy to a bank as collateral. - CORRECT
ANSWERS What action can policyholder take if an application for a bank loan requires
collateral?
Assist in the prevention of insurer insolvencies.
One of the stated purposes of the life and health insurance guaranty association is to assist
in the prevention of insure insolvencies - CORRECT ANSWERS One of the stated purposes
of the life and health insurance guaranty association is to:
The daughter.
With a common disaster Provision a policy owner can be sure that is both insured and the
primary beneficiary die within a short period of time the death benefits will be paid to
